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rich edson in washington with the very latest. rich? >> there could be. in some cases investigators are beginning to run out of time here. in certain cases prosecutors have five years from the sale of the investment product to file charges. five years puts us to the run-up in the financial crisis. the latest to acknowledge a investigation, pnc. the bank said the department of justice and consumer financial protection bureau are jointly investigating whether their mortgage loan pricing had a disparate impact on protected classes. in other words, whether bank practices prompted discriminatory effect against certain groups. in these cases there is no need to prove intentional discrimination. this goes beyond pnc. jpmorgan chase says investigators are examining mortgage-backed securities it sold leading up to the financial crisis. sec and department of justice are suing bank of america for $850 million, claiming the bank hid risks mortgage investments. bank of new york mellon faces lawsuits over foreign exchange rates. success with these charges could be diff
rich edson in washington with the very latest. rich? >> there could be. in some cases investigators are beginning to run out of time here. in certain cases prosecutors have five years from the sale of the investment product to file charges. five years puts us to the run-up in the financial crisis. the latest to acknowledge a investigation, pnc. the bank said the department of justice and consumer financial protection bureau are jointly investigating whether their mortgage loan pricing had...
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Aug 14, 2013
08/13
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david: peter barnes joining us live from washington d.c. peter, i was wondering if the rules against delivering alcoa who date back to prohibition? >> they do, david. they have the roots in the temperance movement. now that the postal service is getting into the 21st century this issue has been bottled up in congress. sorry, that's my pun for the day. in conference call with reporters, postmaster general patrick donahoe, said delivery of alcoholic beverages is on his legislative wish-list as the agency considers ways to gain revenue after losing $16 billion last year and faces more billions this year. the postal service could raise as much as $50 million in revenue a year. >> there are laws around alcohol in the mail date back over 100 years. and we think that, that the world's changed dramatically and customers are looking for a lot more flexibility. >> right now ups and fedex have a lock on the alcohol beverage shipping business. the postal service has been banned from delivering alcoholic beverages since 1909, when congress passsd a law
david: peter barnes joining us live from washington d.c. peter, i was wondering if the rules against delivering alcoa who date back to prohibition? >> they do, david. they have the roots in the temperance movement. now that the postal service is getting into the 21st century this issue has been bottled up in congress. sorry, that's my pun for the day. in conference call with reporters, postmaster general patrick donahoe, said delivery of alcoholic beverages is on his legislative wish-list...
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of course i would have said that about the "washington post" two days ago. liz: the graham. one never knows, do they? an interesting time. thank you so much, reed. >> thank you. liz: reed phillips. david: the days of guaranteed government bailouts for housing may be over as president obama says, finally time to wind down fannie mae and freddie mac. so how will this impact the housing market and you the taxpayer? we have new york community bancorp's ceo that joins us in a fox business exclusive next. liz: speaking of satellite companies, superstar nfl brothers, peyton and eli manning team up off the field to make their rap debut for a commercial for directv. we have the video everyone is talking about coming up. ♪ we do? i took the trash out. i know. and thank you so much for that. i think we should get a medicare supplement insurance plan. right now? [ male announc ] whether you're new to medicare or not, you may know it only covers about 80% of your part b medical expenses. it's up to you to pay the difference. so think about an aarp medicare supplement insurance plan, in
of course i would have said that about the "washington post" two days ago. liz: the graham. one never knows, do they? an interesting time. thank you so much, reed. >> thank you. liz: reed phillips. david: the days of guaranteed government bailouts for housing may be over as president obama says, finally time to wind down fannie mae and freddie mac. so how will this impact the housing market and you the taxpayer? we have new york community bancorp's ceo that joins us in a fox...
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Aug 12, 2013
08/13
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peter barnes joins us live from washington, d.c. with more. peter? >> ashley and liz, the president beginning this up on -- ginning this up on friday when he talked about the consideration of head nominees, potential nominees. he talked about of course larry summers his former economic visor and current vice chairman of the fed, janet yellen. he also said he was considering a couple of other candidates. sources have confirmed the president is also considering another former fed vice-chair, don kohn. who is the fourth candidate? the white house is not commenting on that. but former fed economist, roberto pelrli took a crack at it. he thinks roger ferguson, head of tiaa cref, could be a candidate. princeton professor align blinder, northerly former vice-chair. the vice chairs are all over the place could be in the mix with fed governor jeremy stein. perli thinks summers is the front-runner but like yellen he would probably support continuing bernanke's easy money policies. >> the differences between summers, yellen or anybody else i think are fairly co
peter barnes joins us live from washington, d.c. with more. peter? >> ashley and liz, the president beginning this up on -- ginning this up on friday when he talked about the consideration of head nominees, potential nominees. he talked about of course larry summers his former economic visor and current vice chairman of the fed, janet yellen. he also said he was considering a couple of other candidates. sources have confirmed the president is also considering another former fed...
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Aug 15, 2013
08/13
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need a lot of clarity, and between the fed and the kind of the administration, stuff coming out of washington. you know, where is clarity? that's not there. if we get clarity, the economy will adjust, and that's really the problem. david: but, edward, is the problem went you look at what happened today, the big news from the fed next week, but if there's such a downdraft on a week before we're getting news from the fed, what does that mean for the market, is this the beginning of the selloff that has been foretold? >> i think we're going to be stuck in a trading range for the rest of this year. back in june when i was on your show i talked about a range of 1750 to 1550 on the s&p, and i think we still have about 7% downside from here which would be very, very constructive, it would be healthy, it would be back to the rising 200-day moving average and revisit the june lows of this year, and i think that's, you know, perfectly acceptable. right now we do have to kind of navigate through this tapering issue. i think the price fixing that we've seen in the bond market for quite some time needs to
need a lot of clarity, and between the fed and the kind of the administration, stuff coming out of washington. you know, where is clarity? that's not there. if we get clarity, the economy will adjust, and that's really the problem. david: but, edward, is the problem went you look at what happened today, the big news from the fed next week, but if there's such a downdraft on a week before we're getting news from the fed, what does that mean for the market, is this the beginning of the selloff...